As a seasoned crypto investor with several years of experience under my belt, I cannot stress enough the importance of staying vigilant against scams in this space. The recent incident involving the impersonation of Loopring’s official Twitter handle and the subsequent scam warning from Ripple CTO David Schwartz is a stark reminder that we must always be on our toes.
As a cryptocurrency analyst, I’d like to bring your attention to a significant cautionary note issued by Ripple’s CEO, David Schwartz. This message holds importance not only for the devoted XRP community but also for the broader cryptocurrency market at large.
As a researcher investigating this matter, I came across a tweet from an account pretending to be @loopringorg, the official handle of the Loopring protocol. The post announced that there had been a security breach on Loopring’s system and that a significant amount of customer funds were stolen by hackers. Furthermore, it mentioned that user compensation claims were being processed.
As an analyst, I’d caution you against engaging with this post as it appears to be a scam. The account in question has been swiftly suspended by the X team, and Ripple CTO’s initial message has been updated with a link to a genuine tweet from @loopringorg. In that tweet, the Loopring team provides clarification on the situation.
Caution: This is a scam post!
— David “JoelKatz” Schwartz (@JoelKatz) June 10, 2024
Loopring smart wallets breach
As a security analyst, I’ve analyzed a recent incident involving Loopring Smart Wallets. A few hours ago, some of these wallets were compromised by a malicious actor. The attacker successfully impersonated the rightful owners, resetting their ownership and subsequently withdrew assets from the affected wallets.
The hackers were able to bypass Loopring’s two-factor authentication (2FA) system, allowing them to approve the recovery request using the Official Loopring Guardian. In response, we have temporarily halted all operations related to the Guardian service. Our team is currently working with Mist security specialists to investigate how the 2FA was compromised and to prevent similar incidents in the future.
As a security analyst on the Loopring team, I’m currently engaged in an active collaboration with law enforcement and cybersecurity professionals. We are working diligently to trace the identity of the individual responsible for the recent hack. Two suspect addresses were publicly disclosed, and we have appealed to the crypto community for any additional information that might aid us in our investigation: “Should you possess any details that could assist us in identifying the culprit, please do share them with us.”
Ripple CTO’s earlier scam warning
Last week, as mentioned in an article by U.Today, I came across a situation where Schwartz addressed the XRP community regarding a concern. He publicly posted a screenshot of a private message he had received from another XRP user. The message was allegedly sent by someone claiming to be part of the X support team.
The note received indicated that an investigation was underway regarding this user’s account for potential copyright infringements. A form requested to be filled out could be accessed via the provided link in the message. Failure to submit the form within 24 hours, as warned by the sender, supposedly risked account suspension. However, Ripple CTO refuted the authenticity of the screenshot presented.
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2024-06-10 16:36